Submitting WOTC Applications

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The Work Opportunity Tax Credit (WOTC) is a federal tax credit that the government provides to private-sector businesses for hiring individuals from nine target groups that have historically faced significant barriers to employment. This government program offers participating companies between $2,400 – $9,600 per new qualifying hire.

Through geographic incentive credits, the federal government has also designated certain economically depressed areas as tax advantage areas, or Empowerment Zones. If your business is located in one of these areas and you employ individuals living in the same area, you can earn credit against your federal tax liability.

The WOTC Tax Credit is a dollar for dollar tax credit (not a percentage) of your IRS taxes owed. For example: a mid-sized home care agency or staffing firm that hires about 30 new hires per month can expect a WOTC Tax Credit of more than $250k annually.

The WOTC Process:
1. Each new hire completes an IRS 8850 form, online or paper version. WOTC forms are available in English, Spanish, and Russian versions.
2. Forms are submitted to by email, fax, mail, or online.
3. specialists submit these forms to the govt. agency with backup documentation to prove eligibility.
4. WOTC Certifications are received for qualified WOTC applicants.
5. WOTC Tax Credits are calculated based on employee’s payroll information.
6. WOTC Tax Credits are sent to CPA for filing

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